Petrobras - Petroleo Brasileiro SA 6-K, filed Mar 26, 2021

UNITED STATES

SECURITIES AND EXCHANGECOMMISSION

Washington, D.C.20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month ofMarch, 2021

Commission File Number1-15106

PETRÓLEO BRASILEIROS.A. – PETROBRAS

(Exact name of registrant as specified in its charter)

Brazilian PetroleumCorporation – PETROBRAS

(Translation of Registrant's name into English)

Avenida Repúblicado Chile, 65 20031-912 – Rio de Janeiro, RJFederative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

Petrobras on favorable decision in arbitration

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Rio de Janeiro, March 25, 2021 - Petróleo Brasileiro S.A. - Petrobras, following up on the releases disclosed to the market on 06/22/2020 and 11/11/2020, informs that it received, on this date, a decision from the Market Arbitration Chamber of B3 (MAC), which granted its challenge and dissolved the Arbitration Tribunal that rendered a partial award in the arbitration filed by Petros and Previ.

Thus, in addition to the judicial order that vacated the partial award rendered in the arbitration, as disclosed to the market on 11/11/2020, the parties must now elect three new arbitrators to conduct the procedure and resolve the dispute.

As provided by the rules of the MAC, this arbitration is confidential.

Petrobras reiterates that it will continue to defend itself vigorously, in respect to its shareholders, in all arbitrations to which it is a party.

www.petrobras.com.br/ir

For more information:

PETRÓLEO BRASILEIRO S.A. – PETROBRAS| Investor Relations

email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br

Av. República do Chile, 65 – 1803– 20031-912 – Rio de Janeiro, RJ.

Phone: 55 (21) 3224-1510/9947 | 0800-282-1540

This document may containforward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Company’smanagement. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”,“plan”, “project”, “seek”, “should”, along with similar or analogous expressions,are used to identify such forward-looking statements. These predictions evidently involve risks and uncertainties, whether foreseenor not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not basetheir expectations exclusively on the information presented herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 25, 2021

PETRÓLEO BRASILEIRO S.A–PETROBRASBy: /s/ Andrea Marques de Almeida

______________________________

Andrea Marques de Almeida

Chief Financial Officer and Investor Relations Officer